Motors Liquidation Company formerly General Motors Corporation, was the company left to settle past liability claims from General Motors Chapter 11 reorganization. It exited bankruptcy on March 31, 2011 only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to handle environmental response for MLC's remaining assets, a third to handle present and future asbestos-related claims, and a fourth for litigation claims. Motors Liquidation Company announced on July 10, 2009, in relation to its equity and debt investors:
Management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios. Stockholders of a company in chapter 11 generally receive value only if all claims of the company's secured and unsecured creditors are fully satisfied. In this case, management strongly believes all such claims will not be fully satisfied, leading to its conclusion that the common stock will have no value.
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Motors Liquidation Company formerly General Motors Corporation, was the company left to settle...
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Motors Liquidation Company formerly General Motors Corporation, was the company left to settle past liability claims from General Motors Chapter 11 reorganization. It exited bankruptcy on March 31, 2011 only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to handle environmental response for MLC's remaining assets, a third to handle present and future asbestos-related claims, and a fourth for litigation claims. Motors Liquidation Company announced on July 10, 2009, in relation to its equity and debt investors:
Management continues to remind investors of its strong belief that there will be no value for the common stockholders in the bankruptcy liquidation process, even under the most optimistic of scenarios. Stockholders of a company in chapter 11 generally receive value only if all claims of the company's secured and unsecured creditors are fully satisfied. In this case, management strongly believes all such claims will not be fully satisfied, leading to its conclusion that the common stock will have no value.